Inditex: shares fall on lacklustre results
(CercleFinance.com) - Shares in Spanish retailer Inditex are down over 3% today, after the company announced full-year results that are broadly in line with expectations.
Inditex, which runs the Zara chain, said net income rose 7% in the fiscal year from 1 February 2017 to 31 January 2018, to 3.4 billion euros, while net sales grew by 9% to 25.3 billion euros.
However, like-for-like sales growth was just 5%, compared to 10% in 2016.
Inditex said it would propose a dividend of 0.75 euro per share, up 10.3%.
However, all these announcements were not enough to boost the share in Madrid today, with the stock currently down 3.1% at 23.5 euros.
So far this year, the share has fallen by over 18%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Inditex, which runs the Zara chain, said net income rose 7% in the fiscal year from 1 February 2017 to 31 January 2018, to 3.4 billion euros, while net sales grew by 9% to 25.3 billion euros.
However, like-for-like sales growth was just 5%, compared to 10% in 2016.
Inditex said it would propose a dividend of 0.75 euro per share, up 10.3%.
However, all these announcements were not enough to boost the share in Madrid today, with the stock currently down 3.1% at 23.5 euros.
So far this year, the share has fallen by over 18%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.